Surface Rentals and Farming Operations

NO: IT-200 DATE: February 24, 1975 SUBJECT: INCOME TAX ACT Surface Rentals and Farming Operations REFERENCE: Subsection 9(1) (also section 43 and paragraphs 53(2)(d) and 54(h)) 1. Persons exploring or drilling for petroleum or natural gas often obtain a lease from the owner of land covering certain surface rights. For example, the lease may cover several […]